MatchNet Cancels IPO, Changes CEO
Last week, I mentioned that MatchNet was planning to go public here in the states. It seems that the climate for IPOs is still some what cold and the IPO has been cancelled.
Online dating company MatchNet on Thursday withdrew its plans to sell its shares to the public, joining a growing number of Internet companies that have canceled or postponed a stock market launch.
MatchNet, which operates JDate.com and AmericanSingles.com, said in a statement that it has called off the initial public offering because of the "faltering market for Internet-related IPOs."
The Beverly Hills, Calif.-based company's chief executive officer and president, Todd Tappin, announced his resignation, also on Thursday. He is being replaced by MatchNet board member David Siminoff.